The requirements for obtaining an unsecured business loan in Perth of between $5K to $100K are quite minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K business loan.
All that is needed for starting is your contact details (the name of your company and your name, as well as email, phone) as well as the amount you’d like to lend, and your monthly income.
During the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
After we start, for loans that exceed $150,000, you’ll need basic financial statements.
Let’s get started now.
Perth unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
Apply to get the Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the funds could be on your account within 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. Our business loan is a pre-paid loan so you will be aware of the total amount payable including any fees, interest or charges. This is then broken down into a daily or weekly installment amount.
A Small Business Loan can be used for nearly any business need, such as control of cash flow business remodeling, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans are between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
The Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
In order to be eligible for a loan of this size, your company needs to be operating for a minimum of 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger business loan can be used to fund almost all business need, including company remodeling, buying new equipment or inventory or as general working capital and much more. The loan is not available for personal use.
Asset security is necessary to obtain funding above $150,000. This is as a result of an charge over assets, and may include registration on the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to repay credit that is generally based rather than stating security over an asset. The person signing the guarantee is personally responsible if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR gives preference over private property assigned according to the date a security interest was registered.
An affidavit is an official document lodged to offer the legal claim to property.
When you’re applying for larger company loans of more than $250,000 it’s possible to offer an initial pre-approval in order to smooth out the process. We could be able to apply for this without credit checks and within six hours of your initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial health checks. It is not an offer of credit or guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you are offered could be on different conditions.
You can apply for an company loan if you:
The application process is fast and simple. Just fill out the online application in few minutes and a dedicated business credit specialist will contact you to guide you.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Details for application including credit consent twelve month bank accounts, the IRD statements as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) we usually provide an answer in just one hour, provided you make your application during standard business times and allow us to utilise the bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements , we are able to provide the decision in as little as one business day.
For Larger Business Loans ($100K and up) we could be capable of provide the conditional pre-approval in about 6 hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, it could be faster based on the specifics of each application. Certain deals have been approved in just 24 hours.
The quickest method would be to make sure you apply during standard business hours and allow us to use the modern bank verification link to instantly verify your bank account information online. If you decide to send us the copies of bank statements it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer in just one hour – as long as you apply during standard business timings and permit us to make use of the advanced bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll provide the decision in as little as the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we could be capable of offer the conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval document, you will need to wait around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain agreements have been approved within less than 24 hours.
The fastest method can be make sure you apply during standard business hours and allow us to use the modern bank verification to verify your bank information online. If you decide to send us documents from your account statements it takes a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a certain amount, we will consider a number of variables that determine how much we can lend you health of the business and the level of the repayments your business can support. The amount you receive from your loan will be contingent on the specific circumstances the business.
When you make an application for a set amount, we look at a range of variables to assess the health for your business as well as the amount of repayments your business is able to afford. The amount you receive from your loan will be determined by the particular circumstances the company.
If you decide to make an application for our company loan, we will assess the risk assessment the business and provide you with a customised offer that includes the amount of the loan, the duration and the interest rates. The business loan is an upfront priced loan and you’ll know the exact amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates vary due to factors like the amount of money of money borrowed, the company assets the money will be used for in addition to the industry that the business operates in, how long the business has been running as well as whether the company has sufficient cash flow to cover the loan, and overall health or creditworthiness of the business.
There are no hidden fees for our business loans. You’ll know precisely what you’ll need to pay, and when, starting from the day you sign up. There’s no compounding interest and there are no additional charges (as as long as you pay your payments punctually).
We don’t charge an application fee. You are able to request a credit loan with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay the total amount of your loan in full at any time.
If you do decide to pursue this option, please speak to our friendly business lending professionals. They’ll provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal balance and any accrued interest at the date of early payout, plus 1.5 percent of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow general, we provide payments that are either weekly or daily. These are automatically withdrawn from your designated company account.
Security of your data, and knowing how we collect the information we collect, use, share and safeguard your data, is of huge importance and a vital element of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We employ a highly sophisticated bank verification system link to immediately verify your bank account information online so we can provide rapid response.
Asset-based borrowing occurs when a company owner utilises assets they own to make the loan. The asset could be a personal asset like the family home or a business asset such as a vehicle or piece or equipment.
The majority of lenders, not just the banks with the biggest size, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, then your assets could be taken over by the lender. In essence it’s the process of securing new financing using the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required in advance to gain access to the funds however, we do need the personal guarantee. In the event that you fulfill the loan terms (as specified in the loan contract) Asset security will never be required. For loans of over $150K typically, you will need personal guarantee and security that is in the form an asset charge.
